New IOC president wants to change Olympic bidding

BUENOS AIRES, Argentina -- Newly elected IOC President Thomas Bach says he wants to change the bidding process for future Olympics and make sustainable development a key priority.

In what could be seen as a reference to discontent in Brazil at the spiraling cost of two major sporting competitions -- the 2016 Olympics and the 2014 World Cup -- Bach says he wants the populations of potential host cities to "be part of the candidature at a very early stage" to ensure "more participation and support."

Madrid's unsuccessful bid for the 2020 Games faced criticism as Spain grapples with a double dip recession and 27 percent unemployment.

The 2014 Winter Olympics in Sochi, Russia, will run up a budget of more than $50 billion -- the most expensive games to date.